Commvault Systems (NASDAQ:CVLT) Reaches New 12-Month High – Here’s Why

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price reached a new 52-week high on Friday . The company traded as high as $180.51 and last traded at $177.10, with a volume of 146857 shares trading hands. The stock had previously closed at $172.54.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVLT. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. KeyCorp upped their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Oppenheimer started coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. Cantor Fitzgerald upped their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Stock Performance

The business’s 50-day simple moving average is $162.02 and its 200 day simple moving average is $155.46. The firm has a market cap of $7.69 billion, a P/E ratio of 45.90 and a beta of 0.65.

Insider Buying and Selling at Commvault Systems

In other news, insider Gary Merrill sold 1,523 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,244,755 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Commvault Systems in the third quarter worth about $33,000. TFC Financial Management Inc. boosted its position in shares of Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Commvault Systems in the third quarter valued at $71,000. Signaturefd LLC increased its stake in Commvault Systems by 43.9% during the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after purchasing an additional 180 shares during the period. Finally, TD Private Client Wealth LLC acquired a new stake in Commvault Systems during the 3rd quarter worth approximately $105,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Commvault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.